Factory orders and construction Purchasing Managers' survey results from Germany are the top economic news due on Tuesday.

At 2.00 am ET, Destatis is scheduled to issue Germany's factory orders data for December. Orders are forecast to fall 0.1 percent on month, in contrast to the 0.3 percent rise in November.

At 3.30 am ET, S&P Global publishes Germany's construction Purchasing Managers' survey results.

At 4.00 am ET, Italy's consumer and business confidence survey results are due.

At 4.30 am ET, UK S&P/CIPS construction PMI survey data is due. The construction PMI is expected to climb to 47.2 in January from 46.8 in December.

At 5.00 am ET, Eurostat is slated to publish euro area retail sales data for December. Economists forecast retail sales to fall 0.9 percent on month, following a 0.3 percent drop in November.

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